🍪 Cookies

We use cookies to store, access and process personal data to give you the best online experience. By clicking Accept Cookies you consent to storing all cookies and ensure best website performance. You can modify cookie preferences or withdraw consent by clicking Cookie Settings. To find out more about cookies and purposes, read our Cookie Policy and Privacy Notice.

Cookies settings


Cookie Control

What are cookies?

Cookies are small text files that enable us, and our service provides to uniquely identify your browser or device. Cookies normally work by assigning a unique number to your device and are stored on your browser by the websites that you visit as well as third-party service providers for those website. By the term cookies other technologies as SDKs, pixels and local storage are to be considered.


If Enabled

We may recognize you as a customer which enables customized services, content and advertising, services effectiveness and device recognition for enhanced security
We may improve your experience based on your previous session
We can keep track of your preferences and personalize services
We can improve the performance of Website.


If Disabled

We won't be able to remember your previous sessions, that won't allow us to tailor the website according to your preferences
Some features might not be available and user experience reduced without cookies


Strictly necessary means that essential functions of the Website can not be provided without using them. Because these cookies are essential for the properly working and secure of Website features and services, you cannot opt-out of using these technologies. You can still block them within your browser, but it might cause the disfunction of basic website features.

  • Setting privacy preferences
  • Secure log in
  • Secure connection during the usage of services
  • Filling forms

Analytics and performance tracking technologies to analyze how you use the Website.

  • Most viewed pages
  • Interaction with content
  • Error analysis
  • Testing and Measuring various design effectivity

The Website may use third-party advertising and marketing technologies.

  • Promote our services on other platforms and websites
  • Measure the effectiveness of our campaigns

Trading is risky and your entire investment may be at risk

CapitalPanda | The decline in oil prices is on the horizon

Latest news

Read current news from the financial markets and expert articles from our analyst.

The decline in oil prices is on the horizon

The United States removes a relative of Venezuelan President Nicolas Maduro off the sanctions list

An ex-national treasurer, Carlos Erik Malpica Flores, was placed on the blacklist in 2017 on grounds of subverting democracy.

According to Al Jazeera, the US has eased sanctions against a relative of Venezuelan President Nicolas Maduro, just weeks after announcing plans to facilitate talks between Maduro's government and the US-backed Venezuelan opposition[a].

 

Oil is ready to be shipped from Venezuela to Europe

The first transport of Venezuelan crude to Europe in two years is poised to depart on a 650,000-barrel cargo ship chartered by Italy's Eni, according to Refinitiv Eikon data on Friday, June 14.

In order to satisfy billions of dollars in outstanding debt and dividends due by the OPEC member country, the U.S. State Department delivered letters in May permitting Eni and Spain's Repsol to continue accepting Venezuelan petroleum.

According to the document and sources, the shipment is anticipated to be delivered by Venezuela's state-owned PDVSA later this month with an option for Eni to sell a portion of the crude to Spain's Repsol for its Cartagena and Bilbao refineries.

Global growth is slowing, bigger hit on oil price is possible

In general, WTI has been on a spectacular increase that began about the time prices bottomed out in 2020.* After that, the global epidemic slashed travel demand, causing gasoline prices to fall to levels not seen in decades. Since then, prices have increased as a result of the recovery from periods of isolation, several government incentives, and geopolitical concerns in Europe.

Global central banks have tightened monetary policy because of some of the highest global inflation in decades. They need to curb growth by raising borrowing rates and stopping the purchase of state property to lower growing prices. Realistic projections for global growth in 2022 are declining, which is not surprising. In contrast to the 4.5 percent growth predicted by the end of 2021, we could see growth at 3.2 percent year over year.[1]

 

Technical view

As we can see on the Chart 1, we anticipated possible move of the oil price if the post-invasion would’ve hold on. And it would’ve made new highs if there wouldn't have been Venezuela sanction removal.

ol1*

Chart 1: WTI crude oil price, February-June 2022. (Source: tradingview.com)

After the sanction removal, as we can see on the Chart 2, price pulled back, breached the post-invasion resistance zone, and reached 104ish USD price target.*

oil222*

Chart 2: WTI crude oil price (source: tradingview.com)

If the Support upward line is breached, we will probably see testing of the pre-Invasion support zone. If the PI support zone would be breached, next target is 2nd support zone around 82ish USD price target.[2]

 

Disclaimer:

The content of this material constitutes marketing communication and should not be considered as any type of investment advice and/or investment research and/or a solicitation for any transactions. This material was prepared for informational/educational purposes only and does not imply an obligation to perform investment transactions nor does it guarantee or predict future performance. BCM Begin Capital Markets Cy Ltd and its relevant persons including affiliates, agents, directors, or employees do not guarantee the accuracy, validity, timeliness, or completeness of any information/data provided by third parties and assume no liability for any loss arising from any investment made based on the said information/data.

Overview report prepared by Jozo Perić, Analyst of CapitalPanda

 

 

[1,2] Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.

 

*Past performance is no guarantee of future results.

 

 

[a] Al Jazeera: https://www.aljazeera.com/news/2022/6/17/us-removes-relative-of-venezuelas-maduro-from-sanctions-list

The content of this material constitutes marketing communication and should not be considered as any type of investment advice and/or investment research and/or a solicitation for any transactions. This material was prepared for informational/educational purposes only and does not imply an obligation to perform investment transactions nor does it guarantee or predict future performance. BCM Begin Capital Markets Cy Ltd and its relevant persons including affiliates, agents, directors, or employees do not guarantee the accuracy, validity, timeliness, or completeness of any information/data provided by third parties and assume no liability for any loss arising from any investment made based on the said information/data. Past performance is no guarantee of future results.

CapitalPanda | Czech National Bank left rates unchanged
09.08.2022

Czech National Bank left rates unchanged

Interest rates were left unchanged by the CNB Bank Board. Thus, the discount rate is still at 6%, the Lombard rate is still at 8%, and the two-week repo rate (2W repo rate) is still at 7%.The interest...